Masoval AS — Earnings Release 2026

May 21, 2026

Måsøval AS Q1 26 Report

Måsøval AS Q1 26 Report

STRONG BIOLOGICAL PERFORMANCE DRIVES 2026 MOMENTUM

Sistranda, 21.05.2026

Today, Måsøval announced its results for the first quarter of 2026. The Group

delivered a harvest volume of 4 712 GWT, revenue of MNOK 510 and an

operational EBIT of MNOK 28.

"We enter the second quarter with record-high biomass, strong growth rates,

and robust fish health - providing an excellent foundation for an improved

operational and financial performance going forward," said Helge Kvalvik, CEO

of Måsøval AS.

In Q1 2026 Måsøval produced 8 347 tonnes WFE, up from 7 030 tonnes WFE Q1

2025. "The increased sea production reflects the structured and dedicated work

carried out by our teams across fish health, biosecurity, improved smolt

quality and operational excellence - all central priorities in the Group's

strategy", continues CEO Helge Kvalvik.

In first quarter, the Group experienced positive development across key

drivers:

· Record-high biomass entering the second quarter

· Cost reductions expected across all segments and regions in Q2

· Harvest volume guidance for full-year 2026 increased from 27.200 GWT to

28.000 GWT

· Improved superior share from 62% Q1 2025 to 85% Q1 2026

Måsøval's CEO Helge Kvalvik and CFO Anders Hagestande will present the results

in Norwegian at 08:00 in Auditorium H2, Haakon Viis gate 2, Vika. The

presentation can also be followed via this link:

https://qcnl.tv/p/Ra6pRt8H4D9Si5QyIdwMRQ

Forward looking statements:

This release may be deemed to include forward-looking statements, including

statements relating to Måsøval's goals and strategies, salmon prices, the

ability to increase or vary harvest volume, production capacity, trends in the

seafood industry, restructuring initiatives, business prospects and

positioning with respect to market, demographic and pricing trends, strategic

initiatives, and the effects of any extraordinary events and other matters

(including developments in laws, regulations and governmental policies

regulating the industry, as well as changes in accounting policies, standards

and interpretations) on Måsøval's business and results. Forward-looking

statements are Måsøval's current estimates or expectations of future events or

future results. Actual results could differ materially from those indicated by

these statements because their realization is subject to many risks and

uncertainties. All forward-looking statements included in this release are

based on information available at the time of the release, and Måsøval assumes

no obligation to update any forward-looking statement.

Contacts

Anders Hagestande, CFO, Måsøval AS, +47 415 82 138,

anders.hagestande@masoval.no

Helge Kvalvik, CEO, Måsøval AS, +47 97 97 97 72, helge.kvalvik@masoval.no

This information is subject to disclosure under the Norwegian Securities

Trading Act, §5-12. The information was submitted for publication, through the

agency of the contact persons set out above, at 2026-05-21 06:00 CEST.